What I have been reading - 13th April 2021

Here’s what I enjoyed over the past week:

Purposeless Capital: The Archegos drama with Bill Hwang (see below) was a reminder that capital needs a purpose. As Barry Ritholtz writes here, 'I want more NOW!' is not a purpose. "Across the entirety of my career, I have repeatedly witnessed talented people get destroyed by their own refusal to get rich slowly." This short article is well worth reading.

Bill Hwang had $20 billion, then lost it all in two days: This is a fascinating story - no individual has ever lost so much money so quickly. It serves as a reminder that get rich quick and get poor quick are two sides of the same coin.

5 signs you're ready to downsize your home: If you are worried you might have 'too much house' this article is for you. Many people's lives would be improved by making the simple decision to downsize.

Who feels rich really?: Nick Maggiulli tells a great story and reminds us why wealth is always relative.

How to solve your login problems: If you are a client and you haven't yet set up 1password, please read this Wall Street Journal article and use it as your impetus (if my nagging hasn't yet persuaded you!).

NFTs explained: Coveted by Chamath, Vaynerchuk, Cuban, and regular people, too; but what the heck are they?: If you haven't heard of NFTs yet, you will soon. This article explains what they are and why we should care. Seth Godin takes the other side and claims they are a dangerous trap.

FINALLY:
Wiser: The Scientific Roots of Wisdom, Compassion and What Makes Us Good: I like this article because, well, who doesn't want to be wise, compassionate and good?

ENJOY!

Georgie

georgie@libertywealth.ky